Latest DePIN News

Solana recently unveiled its second-generation mobile phone, the Solana Seeker, during the Token2049 event. This new phone aims to address the shortcomings of its predecessor, the Solana Saga, which initially faced criticism for its high price tag. Despite the initial skepticism, the Saga gained popularity after the introduction of BONK rewards, leading to a surge in resale prices. Now, all eyes are on the Solana Seeker to see if it can replicate its sibling's unexpected success. The Solana Seeker has already garnered significant attention, with 140,000 pre-orders from 57 countries. Formerly known as the 'Chapter Two' project, the new phone has exceeded the demand for its predecessor by fivefold, securing $70 million in pre-orders. To further entice customers, Solana has offered a limited-time promotional price of $450 until Sept. 21 as part of its Founder Window launch strategy. The company claims that the Seeker represents a substantial upgrade over the Saga, particularly in areas such as Web3 accessibility, DeFi applications, and on-device security.

Shares of DCX Systems Limited surged 5 percent to Rs 355 in morning trade on September 19 after the company announced it has received an export order from Israel's Elta System worth Rs 154.80 crore. DCX Systems said that the order is related to the supply of RF Electronic Modules and is expected to be completed within 12 months. This marks the second order win in 2 days for the company, following its subsidiary's acquisition of an industrial license from the Cochin Special Economic Zone (CSEZ) to manufacture and test microwave submodules, avionics, and defence electronic equipment. The newly acquired license allows DCX Systems to manufacture highly classified and sensitive products under CATEGORY-A, as per the Ministry of Defence Security Manual, with a validity of 15 years. In the recently concluded June quarter, DCX Systems reported a 19 percent year-on-year decline in revenue, accompanied by a 69 percent drop in net profit and an operating loss of Rs 4.8 crore. Despite these challenges, brokerage firm KR Choksey remains optimistic about the company's long-term prospects. The brokerage expects growth acceleration in the second quarter, supported by a strong order pipeline and key drivers such as a robust order book, increased focus on cable and wire harnessing, and the commercial production of Raneal Advanced Systems. As of 11 am, DCX shares were trading at Rs 348 on the NSE, up by 3 percent from the previous close, with a weekly rally of 6 percent.

Solana Mobile, a subsidiary of Solana Labs, revealed at the Token 2049 conference that they are set to release their second crypto phone, named Seeker, in 2025. This new handheld device will boast significant hardware upgrades compared to its predecessor, the Saga. Emmet Hollyer, the head of Solana Labs' phone project, highlighted that Seeker will feature improvements such as a better battery, a stronger camera, and a lighter design. Additionally, Seeker will come equipped with a specialized crypto wallet integrated with the device's Seed Vault key storage, allowing users to conduct crypto transactions more efficiently than on the Saga. Seeker's development marks Solana's continued investment in merging crypto technology with mobile devices. Following the success of the Saga, which was rescued from poor sales by the allure of token airdrops, Solana Mobile received substantial pre-orders in early 2024, paving the way for the creation of Seeker. The new phone will maintain the Android platform and a dedicated app store for crypto developers within the Solana ecosystem, enhancing the user experience and expanding the reach of decentralized applications.

Borderless Capital announced on September 18 the launch of its third DePIN-focused fund with a $100 million investment goal. The fund aims to boost the development of Decentralized Physical Fracture Networks (DePIN) in the Web 3 space. This new fund will prioritize investments at the protocol level, reflecting Borderless Capital's optimism about the future of DePIN. Investment firm Borderless Capital introduced its third fund focused on Decentralised Physical Infrastructure Networks (DePINs). The fund will prioritize Web2.5 DePINs, Impact, and commodity DePINs. DePINs have emerged as the fastest-growing sector in crypto, allowing the maintenance of physical infrastructure by leveraging blockchain technology. Their decentralized nature enables investors to build applications, GPU clusters, and connectivity networks at a lower cost compared to Web 2.0 models.

Solana Mobile's upcoming Seeker device is set to revolutionize the world of crypto payments with its double-tap feature. Unlike its predecessor Saga, Seeker is already making waves in the market, garnering $70 million in preorders. The new phone, expected to launch in the summer of 2025, is attracting a significant portion of orders from previously untapped Asian markets. The Seeker device, priced at $500, boasts improvements in weight, screen brightness, battery life, and affordability compared to the Saga. It also features enhancements in its crypto components, such as a more user-friendly Seed Vault for storing crypto seed phrases and a unique double-tap screen feature for seamless crypto transactions. Additionally, Seeker comes with a soulbound NFT that unlocks various rewards programs for users, making it a lucrative investment for buyers.

Borderless Capital, a leading Web3 investment manager, has announced the launch of its third DePIN-focused fund, a $100 million fund dedicated to accelerating the growth and development of Decentralized Physical Infrastructure Networks (DePIN). The fund is backed by prominent investors like peaq, Solana Foundation, Jump Crypto, IoTeX, GSR, and others. DePIN is revolutionizing the construction and maintenance of physical infrastructure by leveraging blockchain technology and token incentives. This decentralized approach allows for the creation of various applications, such as connectivity networks and GPU clusters, more efficiently and cost-effectively than traditional Web 2.0 models. Notably, the Helium Network and GEODNET showcase the rapid growth potential of DePIN in deploying IoT antennas and RTK networks on a large scale. Borderless Capital's Partner, Álvaro Gracia, expressed confidence in DePIN's transformative potential within the Web3 space, emphasizing its role in setting global standards for deploying physical infrastructure and generating passive income while enhancing user accessibility and reducing costs.

There is a growing interest in Solana DePIN projects, with many seeing it as the next big thing in the crypto world. These projects enable the tokenization of tangible assets such as cellular networks, cloud storage, and computer processing power. The DePIN market has experienced significant growth, currently valued at $20 billion, marking a 400% increase in the past year. Surpassing 300% growth, DePIN has become one of the most profitable sectors in the crypto industry, second only to real-world assets (RWA). The value of DePIN on Solana has exceeded $4 billion, attracting both individual users and companies as AI and machine learning gain popularity. **The Appeal of Solana for DePIN Projects** Solana stands out for DePIN projects due to its speed, cost-effectiveness, and robust infrastructure. Its ability to process transactions quickly and at lower costs compared to other blockchains makes it an attractive choice for DePIN initiatives. The ease of system installation, high speed, and expanding user base further contribute to Solana's popularity among DePIN projects. Let's delve into some notable DePIN projects on Solana: 1. **Render Network**: Render is a decentralized GPU rendering network that migrated to Solana for its speed and cost efficiency. Introducing features like the Render Network Cinema 4D Wizard, which streamlines designers' workflows by supporting native C4D files, Render is also part of Grayscale's Decentralized AI Fund, highlighting its significance in AI. 2. **Get Grass**: This decentralized network leverages unused Internet computing power for web scraping, converting data into AI datasets. With over 2 million users globally, Get Grass launched the Desktop Node and initiated an airdrop, distributing 10% of its total token supply. 3. **Kuzco**: Focused on scalable and cost-effective machine learning, Kuzco operates a decentralized GPU cluster on Solana for LLM inference. Since its launch, Kuzco has experienced remarkable growth, expanding its online GPUs to 11.3K and significantly increasing daily points completed. 4. **Ionet**: Partnering with Chainbase, Ionet enhances its omnichannel data network for AI modeling advancements, aiming to elevate the capabilities of AI applications.

IoTeX and Polygon Labs have announced the integration of IoTeX 2.0 with Polygon’s AggLayer, enhancing cross-chain connectivity and unified liquidity for DePIN projects. IoTeX, a decentralised physical infrastructure network (DePIN) connecting over 18 million devices, will now tap into the AggLayer’s infrastructure, enabling cross-chain communication and liquidity sharing. The AggLayer, known for safely connecting chains, provides a unified bridge across different blockchains, offering advanced tools for success in a multi-chain ecosystem. Enhancing cross-chain capabilities The integration between IoTeX and Polygon Labs dates back to 2021, focusing on real-world NFT and cross-chain bridge initiatives. With this development, projects on IoTeX’s blockchain can distribute rewards programmatically and allow users to settle on their preferred chain. IoTeX’s DePIN Infrastructure Modules (DIM) Layer empowers DePIN projects to manage identities, scale efficiently, and access the growing DePIN landscape, valued at USD 19.7 billion.

Moody’s recent report has brought attention to DePIN, Render, Filecoin, and Helium in the crypto space. Investors are also exploring Pepe Unchained for diversification. In 2017, the crypto market witnessed a surge in prices, with Bitcoin nearing $20,000 by December. The subsequent years saw the DeFi and NFT boom, propelling Bitcoin and Ethereum to new highs by Q4 2021, with BTC almost hitting $70,000 and Ethereum nearing $5,000. Analysts predict another bullish cycle in 2024 and 2025, anticipating fresh all-time highs for crypto prices. Bitcoin recently surged above $70,000, reaching $73,800 post the April 2024 Halving, despite uncertainties surrounding politics and institutional interest. The emergence of DePIN, or Decentralized Physical Infrastructure, has garnered significant interest, with Moody’s providing a comprehensive assessment of its potential impact on infrastructure management. Leveraging trustless ledgers, DePIN platforms aim to enhance efficiency, reduce costs, and drive growth through token issuance to incentivize investor participation and network expansion. However, challenges such as regulatory ambiguity, compliance issues, and cybersecurity risks pose hurdles to widespread adoption, necessitating careful risk management and investment in blockchain integration.

IoTeX, a decentralized physical infrastructure network, and Polygon Labs have announced that IoTeX 2.0 will integrate with AggLayer to power cross-chain communication and liquidity across the DePIN ecosystem. Raullen Chai, the chief executive officer and co-founder of IoTeX, disclosed the partnership on Sept. 17 at the R3al World event in Singapore. As the DePIN market experiences significant growth, developers have focused on innovations that can enhance communication and cross-chain liquidity. Polygon projects tap into IoTeX infrastructure. AggLayer Boosting DePIN Market AggLayer is a decentralized service designed to connect blockchains, enabling projects on different chains to programmatically distribute rewards. The protocol’s infrastructure promotes efficiency and further scales the $19.7 billion DePIN market, according to a press release shared by IoTeX and Polygon Labs. Notably, multiple projects on Polygon have integrated IoTeX technology, including CoinFund and Pantera Capital-backed DePIN project GEODNET, and DIMO, a user-owned network that turns users’ car data into assets.